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Regulator allows Taiwanese banks to establish in China
Four lenders given license to set up Taiwanese branches behind CBRC’s promotion of cross-strait cooperation.
China Banking Regulatory Commission (CBRC) recently approved four Taiwan-based Banks to set up branch offices on the Chinese mainland, according to information released by the CBRC on Thursday.
The four banks are: the Land Bank of Taiwan, First Commercial Bank, Taiwan Cooperative Bank and the Chang Hwa Bank.
CBRC has been promoting cross-strait communication between banks in Taiwan and the Chinese mainland, and the recent move is a remarkable step for cooperation between the two sides, released the CBRC.
View the full story in Global Times.
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